2023 Budget : E-Levy Reduced To 1% from 1.5%, Affects All Transaction.
The Finance Minister, Ken Ofori-Atta, has announced a proposal in the 2023 budget statement to reduce the e-levy rate from 1.5 percent to 1 percent.
This 1% E-Levy rate will affect all transactions and the GHS 100 threshold.
He also announced a proposal to “increase the VAT rate by 2.5% to directly support our roads and digitalization agenda; accelerate the implementation of the Unified Property Rate Platform programme in 2023; and review the E-Levy Act, specifically lowering the headline rate from 1.5 percent to one percent (1%) of the transaction value and eliminating the daily threshold.”
He said these when he presented the 2023 budget statement in Parliament on Thursday, November 24.
Furthermore, Mr. Ofori-Atta told the legislature and all Ghanaians that the government will wisely use every tax money it receives.
He said, “There will be fiscal discipline; every pesewa will be spent well.”
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